Infosys Q2 net up 1.6 pc to Rs 2,407 cr; revenues up 31.5%

Large deals and increased sales from Big Data and Cloud helped IT major Infosys on Friday report a 1.6 per cent rise in consolidated net profit to Rs 2,407 crore for the second quarter ended September 30, 2013.

The Bangalore-based firm had reported a net profit of Rs 2,369 crore in the year-ago period, it said in a BSE filing.

Consolidated revenue was up 31.5 per cent to Rs 12,965 crore from Rs 9,858 crore in the year-ago period.

Cheering the results, Infosys' shares opened 7 per cent higher at Rs 3,360 from the previous close on the BSE. They later fell to Rs 3,220 apiece, still up by 3.07 per cent from its previous close.

India's second-largest software services exporter, which had kept its US dollar revenue guidance unchanged after the first quarter results, revised it upwards to 9-10 per cent for the 2013-14 fiscal from 6-10 per cent earlier.

It also revised rupee revenue guidance to 21-22 per cent for the 2013-14 fiscal from 13-17 per cent earlier.

In dollar terms, however, the NYSE-listed firm's net profits fell by 11.1 per cent to $383 million in second quarter of this fiscal from $431 million in the year-ago period.

Revenues rose by 15 per cent to $2.07 billion in the July-September quarter of 2013-14 fiscal from $1.80 billion in the same quarter of 2012-13 fiscal.

The company, which saw return of co-founder N R Narayana Murthy in June in the backdrop of lower-than-expected performance in previous quarters, had earlier said that wage hikes announced in June 2013 would have an impact of about 3 per cent on its margins in the July-September quarter.

"During the quarter, we witnessed broad-based volume growth, robust client additions, five large deal wins and increased sales momentum of our big data and cloud offerings.

This growth is a result of our focus on execution, which helps our clients achieve their objectives," Infosys CEO and Managing Director S D Shibulal said.

With PTI inputs